AirBnB in New York City?

[Joe Vastola]

I just listened to Podcast 114 with Scott Sutherland which discussed vacation rentals. I think it is a great way to maximize cash flow, but I have heard that some cities have very strict laws. Does anyone have experience with short-term rentals in NYC and know what is and isn't allowed?

[Alex M.]

@Ilan Levy-Lambert  @Joe Vastola I believe it has to be coded class B dwelling still.  I rent in NYC and its extremely risky and very hands-on.  Wouldnt recommend it for the faint of heart; furthermore, even if you're technically allowed (<3 home private dwelling), the judges who are enforcing laws are supposedly doing so with very little knowledge and people are getting in trouble.  there's a forum on facebook for NYC professional hosts- join and see the discussion